The senior U.S. Government officials are criminals because they are operating the U.S. Government's finances with a corrupt and fraudulent fiscal policy by using Cash Accounting rather than the proper GAAP Accounting and overspending on a Cash basis. This fiscal policy is a classic Ponzi scheme that is fraudulently deferring an ever increasing amount of public liabilities to the future Americans by undertaxing the current Americans.

Because of this fraud, the U.S. Government has stolen $103.5 Trillion (US Unfunded Liabilities GAAP)) from the future Americans and given it to the current Americans. This is obviously the biggest theft in the history of the planet. The fiscal policy of the U.S. Government is "The Biggest Ponzi Scheme on the Planet" which I have named USAPonzi. The following data was extracted from www.usdebtclock.org as of September 12, 2016 and is the financial basis for this commentary.

Because of this fraud, the current Americans appear to be magically $103.5 Trillion richer because they have been undertaxed by $103.5 Trillion. This is fraud because the future Americans can never pay these deferred public liabilities (US Unfunded Liabilities (GAAP)) of $103.5 Trillion.

The senior U.S. Government officials are criminals because they are using an absurd and fraudulent fiscal policy and accounting system to line their own pockets and to dramatically ($103.5 Trillion)line the pockets of their U.S. upper class friends!

The U.S. Government has produced this Ponzi scheme by operating with Cash Accounting rather than the proper GAAP Accounting. Because of USAPonzi, the U.S. Government reports a Cash Deficit in FY2016 of $0.58 Trillion when proper GAAP Accounting reports a GAAP Deficit in FY2016 of $5.71 Trillion. Because of USAPonzi, the U.S. Government reports its public liabilities as our National Debt of $19.5 Trillion when proper GAAP Accounting reports its public liabilities as our US Unfunded Liabilities (GAAP) of $103.5 Trillion.

The current Americans have been given $103.5 Trillion by the U.S. Government simply because they have been undertaxed by $103.5 Trillion. The U.S. Government distributes this money to the current Americans by overpaying the U.S. ruling class, by overpaying the social (and other) benefit recipients, and by undertaxing the current U.S. taxpayers, primarily the U.S. upper class.

The senior officials of the U.S. Government are direct beneficiaries of USAPonzi because they are being overpaid because of this fraud and they are also members of the U.S. upper class that have been fraudulently given a gift of $103.5 Trillion. The senior officials of the U.S. Government are criminals because they are operating with a fiscal policy that is paying them more than the U.S. taxpayers can afford and they are also being undertaxed by USAPonzi. Some of these senior officials have appeared to become very wealthy because of this fiscal and accounting fraud (See The Clinton Fraud).

USAPonzi is causing the U.S. upper class appear to be very, very wealthy because they would be paying most of this $103.5 Trillion of unpaid taxes if the U.S. Government was operating with the proper accounting system and a balanced budget.

USAPonzi is a fraud because the U.S. Government has borrowed $103.5 Trillion from the future Americans and the future Americans do not have $103.5 Trillion. In fact the future U.S. taxpayers have no extra money because the current U.S. taxpayers are being undertaxed by $5.71 Trillion (GAAP Deficit in FY2016). The money that is being borrowed from the future Americans is therefore imaginary money. The U.S. Government just imagines/pretends that the future Americans will be able to pay the US Unfunded Liabilities (GAAP) that now total $103.5 Trillion (See The Theory of Imaginary Money). But it is also counterfeit money because the future Americans cannot ever pay any of these public liabilities.

Every dollar of GAAP basis deficit spending by the U.S. Government becomes an imaginary-counterfeit dollar in the global economy and the global financial system, therefore;

US Unfunded Liabilities (GAAP) = imaginary-counterfeit money

and public liabilities become imaginary-counterfeit private wealth.

The U.S. ruling class is overpaying itself with imaginary-counterfeit money that it has created with a corrupt and fraudulent fiscal policy and accounting system by fraudulently borrowing the money from the future Americans. The U.S. Government benefit recipients are being overpaid with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans. The U.S. upper class is getting very, very wealthy with imaginary-counterfeit money by being undertaxed by a corrupt and fraudulent fiscal policy and accounting system that is fraudulently deferring these public liabilities to the future Americans. The current Americans are buying stuff they cannot afford with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans. $103.5 Trillion of imaginary-counterfeit money can buy a lot of stuff.

The U.S. Government is creating this imaginary-counterfeit money out of “thin air” by fraudulently incurring public liabilities. This imaginary-counterfeit money will evaporate when this Ponzi scheme implodes (See The Implosion of USAPonzi). By not taxing the current U.S. taxpayers and assuming (imagining) that the future U.S. taxpayers can pay these deferred public liabilities, the U.S. Government has created a bottomless piggy bank from which it can draw funds to overpay itself, overpay the social benefit recipients, and stuff money into the pockets of the U.S. upper class. With this fiscal policy the U.S. Government can spend whatever it wants to and assume that the future U.S. taxpayers will pay for it.

The senior officials of the U.S. Government are criminals because they have approved a Ponzi scheme fiscal policy that is fraudulently creating imaginary-counterfeit money that they can use to overpay themselves and the social benefit recipients and to make their U.S. upper class friends appear to be very, very wealthy.

The senior officials of the U.S. Government are criminals because they have approved a Ponzi scheme fiscal policy that is fraudulently creating imaginary-counterfeit money that the current Americans can use to buy things that they cannot afford. The current Americans are filling the planet with junk that is being bought and built with this imaginary-counterfeit money (See Filling the Planet with Junk!).

Because of this fraud, the U.S. Government, the U.S. businesses, and the U.S. citizens have been writing "hot checks" to each other and to the rest of the planet for the last 47 years (it will be 48 years on October 1, 2016 which marks the beginning of FY2017). The U.S. Government has knowingly and willingly issued $103.5 Trillion of imaginary-counterfeit money into the global economy with GAAP basis deficit spending.

The senior officials of the U.S. Government are criminals because they have approved a fiscal policy that has created $103.5 Trillion of imaginary-counterfeit private wealth that has, in turn, produced U.S. private net worth of $123.4 Trillion (shown in the above table as Total National Assets). The U.S. and global upper class is appearing to get very, very rich because of this U.S. Government fiscal and accounting fraud (USAPonzi) that is borrowing/stealing an ever increasing amount of imaginary-counterfeit money from the future Americans.

USAPonzi is what has allowed us to pay pro athletes (and many others) outrageous compensation (See Why Pro Athletes make $Millions and Oswald made the Dallas Cowboys faux valuable!). The U.S. Government has borrowed $103.5 Trillion from the future Americans so that we can pay pro athletes $Millions a year and give them $100-250 Million multi-year contracts just for playing a game. And these compensation packages tend to go up year by year because USAPonzi is creating imaginary-counterfeit money on an exponentially increasing trajectory. USAPonzi is why Tiger Woods and Michael Jordan have each been paid over $1 Billion. But these athletes (and many, many others) have been paid with imaginary-counterfeit money produced by the senior U.S. Government criminals in Washington, DC and essentially all of their wealth will evaporate when USAPonzi implodes.

I call this ever increasing pool of imaginary-counterfeit money that is being created by the criminals in Washington, DC "The Oswald Financial Bubble". The Oswald Financial Bubble has been inflating for nearly 48 years. Lyndon Baines Johnson was the founding scoundrel/criminal that launched this U.S. Government fraud/Ponzi scheme in January of 1968 and LBJ got into the White House because Lee Harvey Oswald assassinated John F. Kennedy.

The Oswald Financial Bubble has created bubbles in essentially all asset classes and it knows no geographic boundaries. This $103.5 Trillion of imaginary-counterfeit money currently in The Oswald Financial Bubble is about 40% of the global net worth that is estimated to be on the order of $250 Trillion. USAPonzi is pumping up the economy and the apparent private net worth throughout the planet. Global net worth and global economic activity will both drop dramatically when USAPonzi implodes.

The senior officials of the U.S. Government are criminals because they have continued to approve a fiscal policy that is a classic Ponzi scheme that has issued $103.5 Trillion of imaginary-counterfeit money into the global economy and is issuing $15.6 Billion more every day with ongoing GAAP basis deficit spending.

This fraud can only be eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.

All National Governments must be required to use a proper accrual accounting system in order to operate in the global economy so that their currency can be trusted and so that their future commitments to their citizenry can be trusted. The U.S. Government and the U.S. citizenry cannot be trusted trading partners in the global economy with the current fiscal policy and accounting system of the United States of America.

In order to create a level economic playing field throughout the planet, the U.S. Government must eliminate this fraud and corruption.

You can learn more about this fraud/Ponzi scheme by reading my website www.usaponzi.com or better yet by reading my book "USAPonzi" which is available on Amazon and also on my website in PDF format.

This is the biggest ($103.5 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!